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Aaveator138
Feb 06, 2023
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Is getReserveData() on the LendingPool contract the correct way to find the current APY to borrow?
Is getReserveData() on the LendingPool contract the correct way to find the current APY to borrow?
- Aave Protocol
- Aave Pool
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1Aaveator138
Feb 16 2023, 12:32Calling getReservesData() or getting the rate from graphql will give the APR in ray units (27 decimals). To convert APR to APY the formula is
((APR/secondsPerYear + 1)^secondsPerYear) -1
or you can use the formatters in aave-js or aave-utilities to plug in the reserve data and formatReserve() will return both the APR and APY.
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Aave is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers.
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